Stephen's Blog - Archives August, 2007

Home : Blogs : Stephen Katz : Stephen's Blog : Archives August, 2007

Katz Mortgage Team Has Moved - 08/29/07 11:21 PM

As some of you are now aware, my company's parent, First Magnus, went out of business last week. A group of top mortgage professionals and myself have been in the process of considering opening our own branch for quite awhile, but sometimes the best things in life are initiated from a … (2 comments)

Mortgage Market Meltdown - What it Means to You - 08/14/07 11:19 PM

I have given this seminar to several of my realtor's offices and I would be happy to do the same in yours.
The credit markets are in crisis, and the mortgage landscape is changing fast.
But, ask yourself this…
Do you understand the key factors that led to the crisis?
Can you … (2 comments)

Q&A: Stephen, I hear on the financial news, almost everyday, that the mortgage industry is in big trouble. They say it’s a “liquidity” problem. What does that mean? Are people soon not going to be able to get mortgages? - 08/12/07 11:52 PM

Few mortgages are actually held by the bank or the company that funds them. Over the past ten to fifteen years, investors on Wall Street have increased their appetite for higher yield products. With this appetite grew a desire for riskier loans that companies package and sell in pools known … (1 comments)

Sad Day as Trump Mortgage belly flops into mortgage-casualty pool - 08/08/07 02:11 PM

Less than two years after opening its gold-plated doors, Donald Trump has pulled the plug on his "white glove service" loan company in the Big Apple. Reports indicate the firm was plagued by shoddy timing, a sinking market and allegedly sketchy claims made behind closed doors.

I thought this was kinda funny.
Stephen … (8 comments)

Atlanta's #1 Mortgage Company for the past 10 year....Gone! - 08/07/07 11:35 AM

HomeBanc Corp. Announces Intention to Exit the Mortgage Loan Origination BusinessTuesday August 7, 8:30 am ET
ATLANTA, Aug. 7 /PRNewswire-FirstCall/ -- HomeBanc Corp. ("HomeBanc" or "the Company") today announced that it intends to exit the mortgage loan origination business.
The Company at present is unable to borrow on its credit facilities … (3 comments)

Aegis just shut their doors, its getting tough out there - 08/06/07 03:12 PM

To our valued customers,
Because of extreme changes in the markets and rapid decline in conditions in the secondary
mortgage and national real estate markets, Aegis has been forced to suspend taking applications
for new mortgage loans from its broker customers and has ceased the funding process for loans in
our pipeline.
The company is in … (1 comments)

What a Week in the Mortgage Business! - 08/05/07 09:33 PM

Last week we saw American Home Mortgage go out of business. I saw major lenders like Wells Fargo, National City, Greenpoint and others cancel half their product line. Jumbo rates went from 6.75% to 8% in a two day period when the bond market actually improved!! That is a phenomenon that … (4 comments)

Related Links:

All member posts for August, 2007

New members in August, 2007